Fee Model Reference
5-phase advisory lifecycle fee structure with MW-based revenue share capacity model
MW Under Advisory (Y5)
375 MW
5 facilities commissioned
Rev Share Income (Y5)
$9.7M
76% of total advisory
5-Year Cumulative Rev Share
$15.3M
63% of total 5yr revenue
Value-to-Fee Ratio (Y5)
1.7x
2.5% advisory premium at 150 bps
Revenue Share Capacity Model
MW under advisory drives revenue share — edit inputs below in blue
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Portfolio Pipeline | |||||
| New Facilities Commissioned | |||||
| Avg MW per Facility | |||||
| New MW Commissioned | 0 MW | 50 MW | 75 MW | 150 MW | 100 MW |
| Cumulative MW Under Advisory | 0 MW | 50 MW | 125 MW | 275 MW | 375 MW |
| Revenue per MW | |||||
| Offtaker Rate ($/kW/mo) | |||||
| Annual Revenue per MW | $1.7M | $1.7M | $1.8M | $1.9M | $1.9M |
| Total Facility Revenue | $0 | $87.0M | $225.0M | $511.5M | $720.0M |
| Tiered Revenue Share | |||||
| Avg Occupancy (%) | |||||
| Blended Rev Share Rate (bps) | |||||
| Occupied Revenue (basis) | $0 | $47.9M | $157.5M | $419.4M | $648.0M |
| Annual Revenue Share | $0 | $239K | $1.2M | $4.2M | $9.7M |
| Cumulative Revenue Share | $0 | $239K | $1.4M | $5.6M | $15.3M |
| Offtaker Value-Add (2.5% Advisory Premium) | |||||
| Value Delivered to Client | $0 | $1.2M | $3.9M | $10.5M | $16.2M |
| Value-to-Fee Ratio | - | 5.0x | 3.3x | 2.5x | 1.7x |
| Pipeline — Pre-Commissioning (Not Yet Revenue-Generating) | |||||
| Facilities in Pipelinenot commissioned | |||||
| Avg MW per Pipeline Facility | |||||
| Pipeline MW in Development | 100 MW | 225 MW | 300 MW | 500 MW | 400 MW |
| Quarterly Retainer / Pipeline Facility | |||||
| Annual Retainer Revenue | $200K | $360K | $640K | $1.0M | $880K |
| Avg Diligence Fee / Pipeline Facility | |||||
| Annual Diligence Revenue | $100K | $225K | $500K | $750K | $700K |
| Dev Oversight Fee / Facility (annual) | |||||
| Annual Dev Oversight Revenue | $50K | $375K | $900K | $1.1M | $1.4M |
| Total Pre-Commissioning Advisory Revenue | $350K | $960K | $2.0M | $2.9M | $3.0M |
| Pipeline:Commissioned MW ratio | — | 4.50x | 2.40x | 1.82x | 1.07x |
| Revenue Share vs. Total Advisory | |||||
| Other Advisory Revenue(from pipeline above) | $350K | $960K | $2.0M | $2.9M | $3.0M |
| Revenue Share Income | $0 | $239K | $1.2M | $4.2M | $9.7M |
| Total Advisory Revenue | $350K | $1.2M | $3.2M | $7.0M | $12.7M |
| Rev Share % of Total | 0% | 20% | 37% | 60% | 76% |
| Per-MW Unit Economics | |||||
| Rev Share per MW | - | $5K | $9K | $15K | $26K |
| Total Advisory per MW | - | $24K | $26K | $26K | $34K |
2.5%of annual offtaker revenue
Revenue Composition (5-Year)
MW Under Advisory vs. Rev Share
Revenue Share — Tiered Structure
Post-commissioning recurring revenue, scaling with facility performance
1Base Tier
50 bps
>50% Occupied
Facility reaches commercial viability threshold
2Growth Tier
100 bps
>80% Occupied
Approaching full capacity with proven demand
3Outperformance
150 bps
NOI Exceeded
Operating income beats underwritten projections
4Long-Term
200 bps
3+ Years
Sustained partnership with compounding value
Revenue share is the primary recurring revenue engine. At scale with 5 commissioned facilities and 375 MW under advisory, it represents 76% of total advisory revenue by Year 5. The 2.5% offtaker value-add means clients receive 1.7x the value of the fee - locking in offtakers is only one aspect of the value we deliver.
Fee Schedule by Phase
Click a phase to expand details
5-Year Total Advisory Revenue
$24.5M
5-Year Rev Share Income
$15.3M
Peak MW Under Advisory
375 MW
5-Year Value Delivered to Clients
$31.8M